While it is tempting to think of state power as being maintained by sheer force, it still needs a “theological” justification, be it secular or religious. The US state is no exception. Original article: The Political Theology That Maintains State Power
Contrary to anti-freedom myths, "greedy" business owners don't decide what prices will be for goods and services. Original article: Don’t Knock Nock
Contrary to anti-freedom myths, "greedy" business owners don't decide what prices will be for goods and services. Original article: Why Austrian Business Cycle Theory Is Better than Keynesianism
As the Federal Reserve engineers one financial bubble after another, we are reminded that the Austrian Business Cycle Theory explains what is happening and how there is a better way. Original article: Why Austrian Business Cycle Theory Is Better than Keynesianism
Capitalism is characterized by the private ownership of capital, coming from Lockean homesteading principles, and not from state coercion and force. Original article: Nine Months of Javier Milei as President of Argentina: A Critical Assessment
Capitalism is characterized by the private ownership of capital, coming from Lockean homesteading principles, and not from state coercion and force. Original article: What “Capitalism” Really Means
The outcry from establishment media figures following the decision by the Washington Post and Los Angeles Times to not endorse a presidential candidate shows how out of touch they have become about how much we rely on them. Original article: The Establishment Media Is Unaware of Its Growing Irrelevance
Supporters of intellectual property laws claim that people will not innovate unless they are protected by such legislation. In reality, people are more likely to be innovative when they encounter real free markets, not markets characterized by artificial scarcity. Original article: How Intellectual Property Laws Stifle Innovation
While men like Murray Rothbard and Ludwig von Mises believed in “just” war, nonetheless, they did not believe that wars lead to “just” outcomes, as war leads to destruction of civilization. The outcome of the American war of secession proved that point eloquently. Original article: Peace as a Prerequisite for Civilization
Nicolaus Copernicus is best known for his observation that the sun was at the center of our solar system, but he also made a number of astute observations about economics. Original article: Copernicus Was Also Right in Economics
The iconic Hermès Birkin bag helps illustrate Carl Menger’s “Theory of the Good,” and Ludwig von Mises’s explanation of human action. Original article: The Secret Economic Theory Behind the $100,000 Birkin Bag
Voting is controversial among Austro-Libertarians for many reasons. However, if one does choose to vote, one should understand that the state is never constrained by the voters and cannot be “reformed.” Original article: How to Vote for Liberty
As with any other government-controlled institution, a high level of public skepticism about elections is healthy. Original article: It’s Good to be Skeptical of Elections
In his failed 1896 presidential campaign, inflationist William Jennings Bryan declared that he would “not crucify mankind on a cross of gold.” But at least even Bryan favored silver money. Today‘s political candidates will crucify us on a cross of paper. Original article: Today’s Pols Are All Bryanites
So-called economic moderates claim to support free-market capitalism, but then say that markets still need “some” government oversight. Free markets, however, don't need government-based rules because markets effectively regulate themselves. Original article: Free Markets Don’t Need Government Regulation
One of the oldest and most harmful economic fallacies is the belief that, at best, economic exchange is a zero-sum activity. However, free exchange in an unhampered market is always positive. Original article: Exchange is Not a Zero-Sum Game
There are numerous critics of the Austrian School of economics, but when their disparagements are closely examined, the so-called experts themselves are wrong. Austrians can do a better job of setting the record straight. Original article: Answering the Confused Critics of Austrian Economics
Kamala Harris claims that she simply wants food prices to be lower. However, her de facto price fixing scheme would create food shortages and raise the real price of food. Of course, when that happens, Harris simply will blame capitalism. Original article: Kamala Harris’s Price-Fixing Scheme Would Lead to Food Shortages
David Gordon takes another look at Thomas Nagel's Equality and Partiality. While he finds some of Nagel's arguments appealing, they still are inferior to Murray Rothbard's systematic interpretation of natural rights. Original article: Nagel on Libertarianism and Other Things
In this review of Scott Horton's book, Enough Already, we see that the wars the US has waged for the past quarter century in the Middle East have been a disaster. Millions of deaths and a massive refugee crisis later, the unmistakable verdict is in. Original article: Ten Lessons on US Foreign Policy from Enough Already
Had Republicans not vastly expanded federal criminal law during the infamous Wall Street prosecutions 40 years ago, lawfare would not have become such a potent political weapon. Original article: If Republicans Are Against Lawfare, They Shouldn’t Have Unleashed It
Long before there was Alan Greenspan to turn the Federal Reserve into Casino Central, there was John Law, France's minister of finance. Original article: The Birth of “Irrational Exuberance”
One of the important points made by Carl Menger in his 1871 Principles is that people ordinally rank their preferences, valuing some things more than others. While this seems to be a common-sense principle, it actually has important implications for economic theory. Original article: Why People Pay Higher Prices for Some Goods Relative to Others ...
A common belief among economists is that the central bank determines what interest rates should be. But is that accurate? Indeed, there is more to the story. Original article: Does the Central Bank Determine Interest Rates?
A recent fraudulent check-kiting scheme featured on TikTok bears resemblance to some of the "free money" schemes that have been coming from the Federal Reserve. Original article: No Matter the Form, Easy Money Is Still a Fraud
Contra Marx, the laws of economics are immutable and are the same no matter what historical epoch exists. Economies cannot flourish unless market prices, private property rights, and profits and losses are unhampered. Original article: The Manifestation of Economic Laws Across Societies and Epochs
When the bankers called for a central bank in the US, they claimed to only want a way to stop bank runs. It turns out that they wanted—and got—much more. The permanent regime of inflation and asset bubbles is the result. Original article: How the Bankers Outfoxed the Politicians
With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a lonely voice defending laissez-faire and the free market economy. Original article: Who Killed Liberalism? Remembering the Walter Lippmann-Mises Colloquium
One sign of a fraying society is that its laws increasingly become political tools. The latest round involves Democrats trying to use criminal law in a very questionable way to try to put Donald Trump in prison, while Trump promises to retaliate if he is elected. Original article: The Perils of Lawfare
While the US Constitution made the US a large free trade zone, prohibiting states from erecting trade barriers against each other, it also empowered the central government to erect tariffs on goods imported from outside the country. Original article: The Constitution’s Negative Effects on Free Trade
